something just clicked, page-44

Sorry to rain on peoples parade but couldnt a potential suitor take a back door via banks and the largest shareholders.

IE approach banks with an offer to take out (ie banks foreclose) or refinance debt, then approach the major holders to take their stakes out for whatever price?

Leaving the smaller fish to flop around in the mud?

It seems to be happening in Europe a bit at the moment that companies are coming in doing deals with the banks and effectively getting property for $0 equity.. Just by assuming the debt..

There are a number of large companies doing this and I think one to watch would be Colony Capital out of the states. MGPA out of UK (they just raised some 5bil pounds which with gearing could be 10-15bil pounds.

Just a thought and may not work for a number of reasons but it would be interesting to hear from buffet on this?